Small Business Property Reinvestment Act of 2009

Small Business Property Reinvestment Act of 2009 - Amends the Internal Revenue Code to extend through 2010 the increased expensing allowance for depreciable business assets.

[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3898 Introduced in House (IH)]

111th CONGRESS
  1st Session
                                H. R. 3898

  To amend the Internal Revenue Code of 1986 to extend the temporary 
 increase in limitations on expensing of certain depreciable business 
                                assets.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 22, 2009

 Mr. Kratovil introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to extend the temporary 
 increase in limitations on expensing of certain depreciable business 
                                assets.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Small Business Property Reinvestment 
Act of 2009''.

SEC. 2. EXTENSION OF TEMPORARY INCREASE IN LIMITATIONS ON EXPENSING OF 
              CERTAIN DEPRECIABLE BUSINESS ASSETS.

    (a) In General.--Paragraph (7) of section 179(b) of the Internal 
Revenue Code of 1986 is amended--
            (1) by striking ``or 2009'' and inserting ``2009, or 
        2010'', and
            (2) by striking ``or 2009'' in the heading thereof and 
        inserting ``2009, and 2010''.
    (b) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2009.
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